UK Government's Gamble on Crypto Regulation

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A UK Parliament committee proposed crypto trading be regulated as gambling due to its speculative, risky nature.

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This would mean exchanges follow gambling regulations like customer ID, anti-money laundering measures

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Responsible gambling protections such as deposit limits would be required for crypto traders.

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Supporters say regulation protects consumers but critics argue it may hinder innovation.

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Industry groups want balanced rules while regulators are open to extending oversight.

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Potential scenarios include Financial Conduct Authority-like capital, liquidity, conduct standards.

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Exchanges could face pricing, conflict of interest, manipulation, transparency requirements.

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Stakeholders like the City of London Corporation expressed concerns about stifling innovation.

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CryptoUK industry body wants consumer protection without hindering growth.

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Gambling Commission willing to collaborate on addressing crypto trading risks.

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Government decision will significantly impact the future crypto industry landscape.

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Investors should stay informed as the path forward for regulation remains uncertain.

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